Last month we predicted June sales would be less than the same time in 2009…and 30 days later, we were correct! In June 2009 the Bloor-Yorkville area saw 50 sales occurring. For June 2010 only 39 took place resulting in a 22% decline in sales. The G20 Conference and an increase in lending rates are two factors we suspect dampened activity in June. Condos were selling for less than 100% of value, (97% of list price on average) giving buyers negotiating room as opposed to earlier months when multiple offers were more common.

For the second month in a row, CASA Condo saw the most activity with 10 firm sales! The building also had the lowest priced listing at $237,000 for a bachelor unit. A 3 million plus sale at One St. Thomas gave the condo bragging rights for the highest sold in June and the second highest sale of the year. The most active floor plan was the ‘1 bed’ unit resulting in 11 sales with the ‘2 bed’ and ‘1 plus den’ following close behind with 10 and 9 units respectively!

The summer months of July and August are typically slow as both buyers and Realtors tend to vacate the City! For the month of July we predict stronger sales than the 31 sales recorded in 2009. Though most of the City will be in vacation mode, we’ll be working hard with even more updates to the blog in an effort to make us your number one choice for info in the Bloor-Yorkville neighbourhood!

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How time flies! As we approach the mid way point of 2010 a few changes have occurred in the Bloor-Yorkville condo market.  For starters, the month of May saw an increase in listings at Casa Condos (88 Charles St) resulting in 6 solds.  Yorkville as a whole actually saw a decreases in number of sales; 32 as opposed to the 46 in March and 43 in April.  Year over year though (May 2009 vs May 2010) sales are 18% higher!

The most active layout was the 2 bedroom floor plan which saw 12 of the 32 sales.  This has been a common trend through out the year further showing that Yorkville condo purchasers prefer a spacious layout over a smaller one.   The highest sale happened at the luxurious Prince Arthur followed closely by the 2009 PUG award winner: One St. Thomas.

Looking ahead to June, we’re doubtful that sales will pass the 50 sales recorded in 2009.  Increased lending rates and the G20 meeting toward the end of June should put a damper on the amount of activity in the area.  We’ll be following the number closely to see how the market preforms.  We’ll also be doing Pre-Delivery Inspections with clients who purchased at Crystal Blu!  Look for updates on that project in the near future!

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